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Charger Metals get go ahead for Lake Johnston lithium

21 November 2022 10:36
ASX: CHR

Charger Metals are moving the rig to the Lake Johnston lithium project after receiving final approvals to drill an 800-metre-long area of outcropping pegmatites at the Medcalf prospect.

The news comes off the back of a twinning lithium campaign at Bynoe getting the go-ahead with boots already on the ground for a maiden campaign.

Drilling will occur 70 kilometres away from what could be the world’s largest undeveloped lithium resource at Mt Holland, targeting 20 pegmatite dykes which have shown rock chip grades of up to 7.15 per cent lithium.

Ahead of the campaign, Charger has upped its stake in the area by 33 kilometres, acquiring the E63/1883 exploration licence 6.5 kilometres away from Medcalf.

The new licence falls in the area’s interpreted ‘goldilocks zone’, considered to have heightened prospectivity for lithium-caesium-tantalum pegmatites.

The company said with final approvals in hand it has already begun moving people and equipment to the site for a campaign set to begin next month.

“Field staff have arrived on the ground to undertake site preparation at this previously undrilled area and finalise logistics – the planned RC drilling programme will start when this is complete,” managing director David Crook said.

CHR’s Australian Stock Exchange-listed price has risen 0.83 per cent today, currently selling at 60c (10.16 am UTC+ 8 hours).

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